MATHOK: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MATHOK
Largest movements
- Receivables within one year +€18,489
up €18,489 (+70.2%), from €26,343 to €44,832
- Cash +€8,570
up €8,570 (+2.8%), from €307,747 to €316,317
mainly Net result for the year (+€38,477) and Depreciation (+€5,441)
- Reserves +€38,477
up €38,477 (+12.7%), from €303,599 to €342,077
of which Distributable reserves: +€38,477
- Tax, wage and social debts -€7,140
down €7,140 (-59.4%), from €12,012 to €4,873
- Trade debts -€3,927
down €3,927 (-84.7%), from €4,634 to €708
- Gross operating margin -€5,322
down €5,322 (-8.3%), from €64,160 to €58,838
- Taxes -€1,318
down €1,318 (-7.8%), from €16,893 to €15,575
- Depreciation -€1,070
down €1,070 (-16.4%), from €6,511 to €5,441
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €349,412 | €377,902 | +€28,490 | +8.2% |
| Fixed assets | 21/28 | €11,682 | €13,113 | +€1,431 | +12.3% |
| Tangible fixed assets | 22/27 | €11,228 | €12,660 | +€1,431 | +12.7% |
| Plant, machinery and equipment | 23 | €7,967 | €7,844 | -€123 | -1.5% |
| Furniture and vehicles | 24 | €3,261 | €4,816 | +€1,554 | +47.7% |
| Financial fixed assets | 28 | €453 | €453 | = | 0.0% |
| Current assets | 29/58 | €337,731 | €364,789 | +€27,058 | +8.0% |
| Stocks and contracts in progress | 3 | €3,640 | €3,640 | = | 0.0% |
| Stocks | 30/36 | €3,640 | €3,640 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,343 | €44,832 | +€18,489 | +70.2% |
| Trade receivables | 40 | €26,343 | €44,832 | +€18,489 | +70.2% |
| Cash at bank and in hand | 54/58 | €307,747 | €316,317 | +€8,570 | +2.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €349,412 | €377,902 | +€28,490 | +8.2% |
| Equity | 10/15 | €319,599 | €358,076 | +€38,477 | +12.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €303,599 | €342,077 | +€38,477 | +12.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €301,739 | €340,217 | +€38,477 | +12.8% |
| Profit (loss) carried forward | 14 | €3,600 | €3,600 | = | 0.0% |
| Amounts payable | 17/49 | €29,813 | €19,826 | -€9,988 | -33.5% |
| Amounts payable within one year | 42/48 | €29,813 | €19,826 | -€9,988 | -33.5% |
| Financial debts | 43 | €603 | €2,531 | +€1,928 | +320% |
| Credit institutions | 430/8 | €603 | €2,531 | +€1,928 | +320% |
| Trade debts | 44 | €4,634 | €708 | -€3,927 | -84.7% |
| Suppliers | 440/4 | €4,634 | €708 | -€3,927 | -84.7% |
| Taxes, remuneration and social security | 45 | €12,012 | €4,873 | -€7,140 | -59.4% |
| Taxes | 450/3 | €12,012 | €4,873 | -€7,140 | -59.4% |
| Other amounts payable | 47/48 | €12,564 | €11,715 | -€849 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,511 | €5,441 | -€1,070 | -16.4% |
| Other operating charges | 640/8 | €332 | €354 | +€22 | +6.6% |
| Gross operating margin | 9900 | €64,160 | €58,838 | -€5,322 | -8.3% |
| Operating profit (loss) | 9901 | €57,317 | €53,043 | -€4,274 | -7.5% |
| Financial income | 75/76B | €1,083 | €1,090 | +€7 | +0.7% |
| Recurring financial income | 75 | €1,083 | €1,090 | +€7 | +0.7% |
| Financial charges | 65/66B | €81 | €80 | -€1 | -0.7% |
| Recurring financial charges | 65 | €81 | €80 | -€1 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €58,319 | €54,053 | -€4,266 | -7.3% |
| Income taxes | 67/77 | €16,893 | €15,575 | -€1,318 | -7.8% |
| Profit (loss) for the period | 9904 | €41,426 | €38,477 | -€2,948 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,426 | €38,477 | -€2,948 | -7.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.